Remember that, while available, it isn't legally so.
My advice is to avoid getting tainted. Do not read the code.
Of course, archivists, please do archive it. Even if Valve does never open source this, it should be possible to preserve somewhat adequately, and it should be legal to publish, at some point in the future, in some country or another.
Avoid reading the code, being inpired by it and using the same pattern (or worse, snippets) in your project (which could result in legal actions against you).
I have often heard it in the context of windows operating system developper which should be careful of not accidently introducing open-source code in the kernel if it might have a license that is not compatible with Microsoft's one.
My advice is to avoid getting tainted. Do not read the code.
Of course, archivists, please do archive it. Even if Valve does never open source this, it should be possible to preserve somewhat adequately, and it should be legal to publish, at some point in the future, in some country or another.